10-Q
Quarterly report
✓ VerifiedCorning's quarterly report shows customer deposits recognized tripling to $186 million, $149 million of new solar-facility leases commenced in Hemlock, Michigan, and $812 million outstanding under new Chinese yuan facilities.
Filed May 1, 2026 · 10:44 ET
Summary
- Customer deposits recognized were $186 million against $62 million a year earlier, with deferred revenue of approximately $737 million.
- The company commenced $149 million of right-of-use assets for equipment in the Hemlock, Michigan solar facility, with approximately $413 million of leases not yet commenced for the same site.
- New yuan-denominated variable rate facilities carried $812 million outstanding at March 31, 2026, of which $754 million is due within one year.
- Share-based compensation expense rose to $115 million from $54 million.
Key facts
- Solar leases
- $149 million commenced
From the filing for Solar leases
“recognized $ 149 million of right-of use assets and lease liabilities under various leases for equipment placed in service within the solar manufacturing facility in Hemlock, Michigan”
- Yuan facilities
- $812 million outstanding
From the filing for Yuan facilities
“the amount outstanding under these facilities totaled $ 812 million, of which $ 754 million is due within one year”
Why it mattersThe filing shows Corning funding its solar build with local-currency debt while advance deposits from customers accelerate.
- Filed
- May 1, 2026
- Accepted
- 2026-05-01 14:44Z
- Period
- Mar 31, 2026
- Accession no.
- 0000024741-26-000205
- Size
- 6.7 MB
- Index
- Filing index
Documents
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